• Berkadia Announces Array of Closings

    by | May 15, 2026 11:41 am | Acquisitions

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »

  • Tremper Capital Group Closes Several Financings

    by | May 15, 2026 11:40 am | Acquisitions, Developments, Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »

  • Upstate New York SNF Trades Between Not-for-Profits

    by | May 15, 2026 11:39 am | Acquisitions

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »

  • Acquisition Financing Closed for Distressed California Community

    by | May 15, 2026 11:37 am | Acquisitions, Financings

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »

  • Developer and Operator Secure Construction Financing

    by | May 15, 2026 11:36 am | Developments, Financings

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... Read More »

HJ Sims Helps Volunteers of America

by | Mar 28, 2017 7:07 pm | Financings

Volunteers of America partnered with HJ Sims to issue $39.73 million in tax-exempt bonds to refinance its 268-unit/bed CCRC in Anoka, Minnesota. Originally built in 2012 with 120 skilled nursing beds and 59 assisted/independent living units, this community added 65 IL units and 24 memory care units to the campus, in addition to converting the 59 AL/IL units to all-assisted living. The borrower is an affiliate of Volunteers of America, an interdenominational church and Christian human services organization that has been in operation since 1896. Series 2011 and Series 2014 bonds financed the development of both phases of the community, and the Series 2017 bonds will advance refund only the... Read More »
Florida CCRC operator receives a $160 million refinance

Florida CCRC operator receives a $160 million refinance

by | Jan 27, 2017 8:29 am | Financings

When the largest operator of CCRCs in the state of Florida wanted to refinance in order to take advantage of the low interest rate environment, HJ Sims was happy to oblige. Presbyterian Retirement Communities, Inc., or Westminster Communities of Florida, with 2,025 independent living, 468 assisted living and 751 skilled nursing units in its portfolio, is not only the largest CCRC operator in the Sunshine State (with nine), but is also the 10th largest not-for-profit operator of senior living units in the country. Founded in 1954, the organization targets the middle income market, with entrance fees ranging from $44,100 to $357,000, and averaging at $120,600. Westminster already worked with... Read More »
Cain Brothers and Pilgrim’s Place

Cain Brothers and Pilgrim’s Place

by | Jan 12, 2017 7:55 pm | Developments, Financings

Pilgrim’s Place, a not-for-profit CCRC in Claremont, California was originally established over 100 years ago, and now is planning a $9 million renovation with the help of a $36 million tax-exempt bond issuance from Cain Brothers. The community has grown over the years to feature 182 independent living units, 56 assisted living units and 62 skilled nursing beds on a 32-acre neighborhood campus. Cain Brothers structured the bonds with a 4.25% coupon priced at a discount, and an all-in total interest cost of 4.46% and net present value savings on the advanced refunding portion of more than $1.5 million, or 6.4% of refunded par. Read More »
New bonds for North Carolina CCRCs

New bonds for North Carolina CCRCs

by | Jun 10, 2016 8:30 am | Financings

A not-for-profit owner of three CCRCs, totaling almost 1,000 units in North Carolina, recently refinanced all of its Series 2005 fixed rate bonds with the help of Ziegler. The United Methodist Retirement Homes (UMRH) has partnered with Life Care Services since 2000 to operate its three campuses, which include 622 independent living units, 108 assisted living units and 202 skilled nursing beds. To refinance the outstanding bonds, Ziegler closed a $34.485 million tax-exempt, fixed-rate bond issue, with an aggregate yield-to-maturity of 3.47%. That produces net present value savings of $8.91 million (or 22.47% of the principal amount of the refunded bonds). Davenport & Company served as a... Read More »
From Allen to Ziegler

From Allen to Ziegler

by | Apr 13, 2016 8:30 am | Developments, Financings

Ziegler just closed on a $26.2 million tax-exempt bond financing for Christian Care Centers (CCC), a not-for-profit based in Texas. CCC operates two retirement communities in Texas and is in the process of completing construction of a rental community in Allen, Texas, which will have 22 independent living units, 32 assisted living units and 36 memory care units. Read More »